If You want to try an alternate method.
I don't know what you plan to do with this, but if it's a small build.
You can try to Start the boot.wim directly from Grub4dos
First you need to make an all in ram build... see build core in Winbuilder.
Second grab the following files from your compilation install grub4dos on your drive.
And create the following arch in your usb Drive. With the provided files attached to this post,
and the files from your build... Newer versions of Wimboot struggles to boot from Grub4dos
\Wimboot
\BOOTMGR
\bootmgr.exe
\Boot\bcd
\Boot\boot.sdi
\Sources\boot.wim
Then use this in your Menu.lst
title Windows PE - wimboot
kernel /wimboot
initrd @BOOTMGR=/BOOTMGR @bootmgr.exe=/bootmgr.exe @bcd=/boot/bcd @boot.sdi=/boot/boot.sdi @boot.wim=/sources/boot.wim
If you want to change the arch of folders and rename files on your usb,
you need to create a custom BCD with the correct configuration inside to have a successful boot.
This way you can have multiple winPE on the same USB drive, also there is no Y: drive mounting
Problems to cope with, using this method.
Hope this will help.